Legacy Housing (LEGH) to Raise $41 Million in IPO

Legacy Housing (LEGH) is planning to raise $41 million in an IPO on Thursday, December 13th, IPO Scoop reports. The company plans to issue 3,500,000 shares at $10.75-$12.75 per share.

In the last twelve months, Legacy Housing generated $169.2 million in revenue and $28.3 million in net income.

B. Riley FBR and Oak Ridge Financial served as the underwriters for the IPO.

Legacy Housing provided the following description of their company for its IPO: ”  Legacy Housing Corporation, formerly Legacy Housing, Ltd., builds, sells and finances manufactured homes and “tiny houses” that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured home communities. We are the fourth largest producer of manufactured homes in the United States as ranked by number of homes manufactured based on information available from the Manufactured Housing Institute and Institute for Building Technology and Safety for the second quarter of 2018. With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 390 to 2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 31/2 bathrooms, “.

Legacy Housing was founded in 2005 and has 800 employees. The company is located at 1600 Airport Freeway, #100, Bedford, TX 76022, US and can be reached via phone at (817) 799-4900. or on the web at http://www.legacyhousingcorp.com.

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